August 24, 2020
As per the report titled ‘Ambulance Services Market Size By Mode of Transportation, By Service, By Payer, By End-use, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’, available with Market Study Report LLC, global ambulance services market is projected to amass significant revenues by the year 2026.
Increasing cases of road accidents, surging pervasiveness of chronic disorders, and rising trend of medical tourism are impelling the growth of ambulance services market. Notably, ambulance services are vital for emergency pre-hospital medical care and provide qualified medical assistance in transit. Incorporation of modern ambulances with life-saving equipment and devices is augmenting the market outlook.
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Usage of air ambulance for patients at densely-packed locations and need for fast-access to patients located at great distance is propelling the industry growth. These ambulances are equipped with ECG, ventilators, medicines, and stretchers to ensure immediate medical assistance to patients.
Based on mode of transportation, ground ambulance segment was worth USD 16 billion in 2019 and is poised to gain further traction as these services are readily available, accessible, and cost-effective as compared to water or air ambulances.
Speaking of service terrain, ambulance services market share from non-emergency medical services segment was recorded at 37% in 2019 and is slated to grow modestly over the forecast period. These services include prescheduled transportation of patients from one medical facility to another and transit of individuals with disabilities to hospitals.
As per end-user spectrum, hospitals segment is reckoned to grow with a CAGR of 0.5% through 2026. Escalating number of surgeries is boosting the demand for ambulance services from hospitals.
From regional frame of reference, global ambulance services market is divided into Middle East & Africa (Saudi Arabia, South Africa), Latin America (Mexico, Brazil), Asia Pacific (Australia, India, China, Japan), Europe (Spain, Italy, France, UK, Germany), and North America (Canada, U.S.)
Established companies in worldwide ambulance services market are SHM Shipcare, Aeromedevac Air Ambulance, Harmonie Ambulance, Ziqitza Healthcare Ltd., Air Methods Corp., Falck A/S, America Ambulance Services, BVG India Ltd., Acadian Ambulance Service, and Babcock Scandinavian AirAmbulance.